Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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Fri Dec 7, 2012 10:17am IST 

* The BSE index gains 0.05 percent and the NSE index
 is down 0.02 percent
* ITC falls 0.5 percent on profit booking after it
touched its all-time high of 303 rupees earlier in the day.
* However, four-wheeler stocks such as Maruti Suzuki India
 gain. Maruti up 2.5 percent on reports of price hike
in January.
* Bahujan Samaj Party (BSP), which had abstained in the lower
house, said it would vote in support of foreign direct
investment in the upper house of parliament on Friday.  
* Traders say while markets remain susceptible to profit booking
after India's benchmark index rose 5.6 percent till Thursday,
since Nov. 22, when the winter session of parliament began, vote
on FDI remains the key for near term direction.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
India Markets
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